CEO Scott Wine said in a statement that the company had strong demand for its Ranger and RZR side-by-side vehicles. Sales of off-road and on-road vehicles, as well as snowmobiles, all improved during the quarter.

Sales of parts, garments and accessories also rose, helped in part by the addition of more than 250 new accessories for the 2013 model year. International sales climbed thanks to better sales in the Asia Pacific and Latin American regions as well as increased sales of Victory motorcycles.

Polaris now foresees full-year earnings between $4.32 and $4.37 per share. That's up from prior guidance between $4.05 and $4.15 per share. The company now expects revenue will increase 19 percent to 20 percent, up from its previous forecast for a rise of 14 percent to 17 percent. Based on the company's 2011 revenue of $2.66 billion, the new forecast implies 2012 revenue of $3.17 billion to $3.2 billion.

Analysts had expected earnings of $4.19 per share on revenue of $3.13 billion.